Ford Europe said today it aimed to return to profit in the fourth quarter of this year following a deep loss in the second quarter.
"I would be disappointed if we don't return to profit in the fourth quarter," Mr David Thursfield, the company's executive vice president, International Operations and Global Purchasing told journalists on a conference call.
Earlier, Japan's Mazda, one third owned by Ford, said its president Mr Lewis Booth had stepped down to take charge of Ford's loss-making European arm. In August Mr Martin Leach resigned as President and chief operating officer of Ford Europe just a month after the unit posted a second-quarter pre-tax loss of $525 million.
Mr Thursfield also said there were currently no negotiations with Italy's Fiat about the possible move of Leach to Fiat's auto unit.
"We have not been notified where Leach is going," he said, adding there were no negotiations with Fiat.
Media reports in the last week have said Fiat was negotiating with Ford to release Leach from a non-compete clause in his Ford contract which is believed to last for six months.